Guideline Value for MADHA KOIL 1ST STREET

Madha Koil 1st Street guideline value

The current guideline value of Madha Koil 1st Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Koladi village and falls under the Chennai South Joint II SRO, with a land classification of Residential Class II Type - II.

How the guideline value of Madha Koil 1st Street has changed

The guideline value for Madha Koil 1st Street has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 536 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 800 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 880 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 340%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which means that Madha Koil 1st Street's 2024 figure is below this median.

• Madhakoil 1st Cross Street: Rs 880 per sq.ft (2024)
• Madha Koil 2nd Street: Rs 880 per sq.ft (2024)
• Madha Koil 3rd Street: Rs 880 per sq.ft (2024)
• Lotus Nagar: Rs 660 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 880 per sq.ft (2024)
• Mahda Koil 2nd Street And Cross Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Madha Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madha Koil 1st Street?

The Sub Registrar Office that covers Madha Koil 1st Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Koladi

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value helps in calculating the applicable fees, which are based on the higher of either the guideline value or the actual sale price. This ensures transparency and fairness in property transactions within the Koladi area.

Frequently asked questions

What is the current guideline value of Madha Koil 1st Street?

The current guideline value of Madha Koil 1st Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall rise of 340% during this period.

What is the median guideline value for streets in Koladi?

The median guideline value for streets in Koladi is Rs 1,100 per sq.ft, which is higher than the current value of Madha Koil 1st Street.

What are the stamp duty and registration fees for a property in Madha Koil 1st Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Madha Koil 1st Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Madha Koil 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.